Translate

Friday, May 27, 2016

Friday Feature Book Review: Falling Short (in retirement) by Charles D. Ellis チャールズD.エリスによる退職危機

More than 30 years ago, a major change to the US retirement system began. At that time, 401(k) programs began. This has changed how many US citizens view retirement, but the recent reasons for retirement are now impacting this change. How did this all begin, and how can we find our way out of this unclear future?

This book clearly explains how the future of US citizens will need to adjust to only "possible" future retirement plans. Many similar economies in Europe, Africa, Brazil, Japan, China and Asia are all looking at similar trends. 

Today, the average US citizen retires at age 64 for men and 62 for women. However, the average retired citizen will continue to live on for around 21 years for men, and 23 years for women. The average citizen will live for a much longer period than any planning is expecting. 

If the average US citizen has only US$111,000 in retirement savings, that is just $400 a month, and that number does not bode well for the future. The biggest change the author ties to suggest to raising the new retirement age from 65 to 70. A nice first step, but hardly a final guide for long term senior living prosperity.

How did pension go so wrong for so many? Almost 200+ years ago, the world's first pensions began in Europe, and were started by Napoleon. He started a military veteran's pension for his soldiers. At that time, the average French citizen lived until 55, so the starting pension age at 65, built 10 year cushion, and was very sustainable. Soon other parts of the government offered similar pensions to other citizens. 

Later, the private sector followed suit and the whole concept of a military or veteran connection was lost. The quality of life was able to rise in France and the rest of Europe, but the retirement age was never touched. This inability to adjust the retirement age has created a difficult to sustain system today. This is a focused book that really tries to bring ideas to a system in need of change. If thinking about bigger picture solutions turns you on, then this is a very inspiring starting point for a worldwide challenge for all citizens. Highly Recommended!


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com




Wednesday, May 25, 2016

ヘッジファンドとは何ですか?(パート1) マーク・ピンク、社長、TopMoneyJobs.com

ヘッジファンドとは何ですか?どのように機能するのですか?

ヘッジファンドには、1949年以来の歴史があります。ヘッジファンドの作成者、アルフレッド・ウィンズロー・ジョーンズは、アメリカで第一号を開発しました。彼は興味深いバックグラウンドを持っています。彼はアメリカ人の両親のもとで、1901年にオーストラリアのメルボルンで生まれました。彼は1923年にハーバード大学を卒業してから、後にコロンビア大学大学院で博士号を取得しました。

彼はドイツのベルリンで外交官、ニューヨークのフォーチュン誌で金融ジャーナリスト職を務めました。その後、彼はキャリアチェンジの機会を得て、1948年に資金管理の仕事へ移りました。彼は彼自身の40,000米ドルを含め、 100,000米ドルを調達し、シンプルなロング/ショート戦略を開始しました。

彼は最高のパフォーマンスの株式を買って、その価値が上がることを望みました。彼はまた価値が下落することを期待して、最悪のパフォーマンスの株式をショートしました。彼は彼のパフォーマンスを最大化する為に、レバレッジを使用しました。彼はその後すべての利益を共有する為に、リミテッド・パートナーシップを設立しました。これは成功し、ポジティブな結果に基づいて、外部の投資家から、マネージング・パートナーとしての彼自身の為に20%の手数料を生み出しました。彼はその当時のすべてのミューチュアルファンドをアウトパフォームすることができました。彼は、その後5年間実績を挙げ、すぐに認められるようになりました。

彼がロングとショートを組み合わせ、レバレッジを使用し、リミテッド・パートナーシップを活用した結果、今では、ヘッジファンド業界の父として知られています。それからは多くの新しい戦略が開発され、業界の資産は1兆米ドル以上に成長しています。多くのヘッジファンドはニューヨーク、ロンドン、シカゴ、サンフランシスコ、東京、香港、シンガポール、そしてメルボルン、オーストラリアなどの都市にあります。これは、TopMoneyjobs.comの継続シリーズのパート1です。
  
Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, and anything else with a financial theme.  Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 29,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業29,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

What is a Hedge Fund? (Part 1) by Mark Pink, Founder, TopMoneyJobs.com

What is a hedge fund? and how do they work?


Hedge funds have been around since 1949. The creator of the hedge fund, Alfred Winslow Jones, started the first one in the USA. He had an interesting background. He was born in Melbourne, Australia in 1901, to American parents. He graduated from Harvard in 1923, and then completed his PhD at Columbia later on. 

He was a former US diplomat in Berlin, Germany, and a financial journalist at Fortune, in New York. He saw an opportunity to change careers and move into money management in 1948. He raised $100,000 US dollars, including 40,000 dollars of his own, and started a simple long/short strategy. 

He bought the best performing stocks, and hoped they would rise in value, and also shorted the worst performing ones hoping they would fall. He also used leverage in order to maximize his performance. He formed a limited partnership to share all profits. It did well and started to charge 20% fees for himself as the managing partner, from outside investors based on his positive results. He was able to outperform all mutual funds of the day, and soon afterwards began to be recognized after a 5 year track record. 

Because he combined, both long and short selling, used leverage and even formed a limited partnership structure, he is now known as the modern father of the hedge fund industry. Many new strategies have since developed, and the assets of the industry have grown to more than US1 trillion dollars globally. Many hedge funds are now in cities like New York, London, Chicago, San Francisco, Tokyo, Hong Kong, Singapore and even Melbourne, Australia. This is Part 1 of a continuing series by TopMoneyJobs.com.


Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, and anything else with a financial theme.  Thank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 29,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業29,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.





    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Friday, May 20, 2016

Friday Feature Book Review: Goldman Sachs: Culture of Success: Lisa Endlich ゴールドマン・サックス―世界最強の投資銀行 リサ エンドリック

There is always one firm at the top, and right now, it is Goldman Sachs. How do you get there? Is there a shortcut to success? Can a better competitor adapt and overtake it somehow or someway? If there is a way to dethrone the current king of investment banking, it will not be quick. Marcus Goldman, started the firm in 1869 and was joined by a relative Samuel Sachs, soon after in 1882. With more than 147+ years of experience behind them, it did not come quickly.

There is something different about Goldman bankers that is not shared with other firms. It is one of those things that is known, but never easy to explain. It is partly about a level of client connection and determination that is rewarded more often or more clearly than any rival in the industry. Transactions of note include the IPO of Ford Motor Company in 1956, Richard Branson's Virgin Music, and Ralph Lauren's Polo, all firms that were helped with various dealings.

The term "partner, as in a Goldman Sachs partner" is a rare thing today that is really the epitome of professional success. It is a badge of determination, dedication and wealth that no other investment bank in the world offers to as many as Goldman Sachs does today. In fact, it gives partnerships to any member in any branch anywhere in the world. It is not only for those who stay in New York City.

As an example of this new internationalism, top earners at a younger than expected age, were given partnership at overseas branches. Oki Matsumoto, worked for the Japan branch and was one of the very first partners to come the region. He represented what could happen to ambitious staffers in any branch on the globe. Back in 1998, when he was just 35, he made partner. The surprise is that he had joined the firm only 8 years before from Salomon Brothers Asia. 

Since then, many partners from Asia, and Japan and many other markets have all made it to becoming a partner. This firms pay like no other, and this book details so many of the people and the drive needed to make it to the very top. If you are a history buff and like finance, this book is for you. highly recommended. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme.  Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com


Friday, May 13, 2016

Friday Feature Movie Review: Wall Street: An Oliver Stone Film 1987 ウォールストリートオリバーストーンフィルム

Greed is Good! This classic phrase has lived on to represent finance for decades since this Oliver Stone film was released in 1987. Gordon Gekko, the main villain of this movie became the new anti-hero for a new generation within finance. He is played perfectly by Michael Douglas in arguably his best iconic role on film. 

Bud Fox, played by Charlie Sheen, gets to play every financial professional's dream.  To start out in the trenches and rise up to become a real "player" like "GG" (aka Gordon Gekko). At the time, that took around US$50-100 million dollars in cash. Today I would assume that a billionaire would have to be the next new benchmark of financial success. 

The director's casting is also interesting as Martin Sheen, plays Carl Fox, Charlie Sheen or Bud Fox's father in the movie not just in real life. On a side note, Martin is shown in hospital after the heart attack. In real life, that scene was shot right after Martin actually had a real heart attack. The tears for Charlie Sheen were said to be easy to muster as the memory was so recent. It was also the first scene shot with Martin Sheen, hence a limited amount of dialogue from a hospital bed. This may be one of Oliver Stone's best casting choices.

Blue Star airlines where Carl Fox works in charge of the maintenance men, becomes important. It becomes a key stock target as the overfunded pension fund is too attractive a pot of gold to be left alone by GG. Another key scene is how to tip off the press by calling a key journalist. "Blue horse shoe loves Blue Star Airlines". Making such a risky call from a corporate desk on a recorded line seems odd today. Why not use a pay phone? At least it was not in an email.

The key point of the film is how information is the ultimate currency and path to riches. Sun Tzu and the "Art of War" is also introduced as a new Wall Street bible to learn strategy and insight from. What is legal, what is not, and what is in the grey zone of profitability versus bendable rules that are "just a guide" is what the moral of the storyline tries to explain. Machiavelli does not get the last laugh. In this movie, "the end does not justify the means" it just gets a person in jail. The pursuit of money has a cost, nobody is above the law. That lesson rings very true to the viewer.

Despite its age, only the electronic technology is dated. The people, their actions, and how they speak, all seem as contemporary today and it was in original release almost 30 years ago. It was no lucky accident that this was the case. Oliver Stone's father was a career stockbroker and tremendous care was taken in making sure that the script was very authentic. It still stands well against the test of time. Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com

Friday, May 6, 2016

Friday Feature Book Review: Empire : How Britain Made The Modern World: 英国は近代的な世界を作った方法 by Niall Ferguson ニーアル・ファーガソン

Given the Brexit decision soon to come. How did Britain, a small island nation come to run a global empire that had 25% of the world under its control? It did so by adapting to various opportunities. This is another well researched effort that brings together great sequences of financial history and global trade. 

We learn that in the beginning, the UK was little more than a pirate nation attacking Spain. After taking over the island of Jamaica, they grew sugar, the new white gold needed in consumer markets. From this point on, the government coffers began to fill. Luckily, instead of spending, they reinvested much of the profits, and tried to expand well beyond the borders of Europe.

This is a wonderful collection of detail on how the British economy grew. For example, it looked at Holland, and its central and stock exchange, and then merged financial systems under William of Orange. This allowed the government to pay for a navy with private low cost bonds from the public, including Nathan Rothschild as its investors. This is also how they took over India, with its 400M+ population, and a large standing army that defeated the French for world trade domination. The author makes clear that business and trade decisions need to be financed. 

If you only follow a king like France, a king that reneges on his debts, you pay higher interest rates. Cecil Rhodes, famous for his Rhodes scholarship, uses cheap capital from the UK to build railroads in Southern Africa. In many ways, he can be seen as a private mercenary effort (a kind of land pirate if you will) to take over the area. By bringing the best weapons that money can pay for, and grabbing all real estate possible via military means for private investors, it worked. He even created his own country named after himself, Rhodesia. 

There are many amazing stories like this across the history of the UK and its trade, that tie together well, and form a very interesting pattern. It shows why the world trades in the way it does, especially using the English language. Given its color and clear approach to finance and history, this book is Highly Recommended!

Please visit us for our Friday Feature Review where TMJ Partners will review books, movies, services and anything else with a financial theme. Follow us now for our free weekly updates, just click hereThank you for reading and learning more about how money is made in finance!

If you are interested in Sales & Trading, Banking or FinTech focused roles in Asia or Japan then click here. Follow TMJ Partners on Twitter, the world's #1 recruiter on Twitter, over 50,000+ followers already have! click here! 

あなたアジア日本セールストレーディング,
バンキング、フィンテックの役割に興味がある場合は、こちらをクリックしてくださいティエムジェィパートナーズTwitterでフォローしてください 世界中のTwitter第1位の採用企業50,000以上のフォロワーが既に持っています!クリックしてください

For more Buy-Side and Sell-Side roles in Asia-Pacific, contact our TMJ Partners Japan & Asia Finance team.



    Tokyo                                                                Tokyo
             Mark  Pink                                                  Shinichi Nagasawa
      Direct + 81 3 3505 3891                                       Direct  +81 3 3505 3891
            Email pinkmark@tmjpartners.com                         Email nagasawa@tmjpartners.com